TP ICAP, the biggest interdealer dealer on this planet, introduced as we speak that its Information & Analytics (D&A) unit has shaped a brand new partnership with Credit score Benchmark, an analytics firm.
Credit score Benchmark is at the moment the biggest single supply of credit score knowledge for each rated and un-rated entities. The monetary knowledge firm serves as a substitute supply of credit score danger and scores round 22,000 counterparties all through the world.
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On account of the partnership, TP ICAP D&A will create a credit score proxy answer. This can mix market pricing with Credit score Benchmark rankings. This can give its clients entry to cost discovery, xVa, buying and selling and danger administration capabilities, the assertion stated.
TP ICAP to produce knowledge to analysis credit score danger
Moreover, the collaboration may even see TP ICAP offering Credit score Benchmark with knowledge from its Tullett Prebon Data (TPI) enterprise. This knowledge will go in direction of analysis into the connection between actual world and danger impartial credit score danger. This knowledge can be distributed straight and can be accessible by means of TPI.
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Commenting on the partnership, Invoice Haney, CEO of Credit score Benchmark stated: “we’re happy to be supporting TP ICAP’s D&A group in enhancing their sector-level credit score danger choices.
“Not solely will this partnership enormously increase the breadth and depth of TP ICAP’s protection, it can allow Credit score Benchmark to broaden the attain of our analytics product choices. We stay up for working carefully with TP ICAP on continued improvements within the credit score danger analytics area.”
Ovie Koloko, World Head of Product Growth for Information & Analytics at TP ICAP, added: “there’s a gap on this market and we see our current credit score knowledge gross sales enterprise as a possible space of development.
“Credit score Benchmark’s enterprise mannequin gives a broader and extra well timed evaluation than conventional ranking strategies. We plan on creating options that help companies with rules akin to FRTB and the addition of Credit score Benchmark’s analytics will allow us to raised meet the wants of our shoppers. We stay up for constructing on our current relationship.”
TP ICAP in takeover talks with Axiom Commodity Group
The partnership with Credit score Benchmark follows on from the rumours, that TP ICAP is reportedly in superior talks to purchase US-based Axiom Commodity Group, as Finance Magnates reported. With TP ICAP set to report its third-quarter outcomes on Friday, the deal might be introduced as quickly as this week.